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SEBI Gives Nod to Emcure Pharmaceuticals to Launch IPO

20 June 20244 mins read by Angel One
Emcure Pharmaceutical's IPO receives a nod from SEBI for its IPO launch. The fresh issue shares are worth approx Rs.800 crores which contains an OFS of 1.36 crore equity shares.
SEBI Gives Nod to Emcure Pharmaceuticals to Launch IPO
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Emcure Pharmaceuticals has received market regulator SEBI’s nod for its IPO launch. The company had filed its DRHP on December 20, 2023. It aimed to be listed on both the stock exchanges, NSE and BSE.

About the Issue:

Emcure Pharmaceuticals receives a nod from SEBI to launch its IPO. The IPO consists of a fresh issue of shares worth Rs 800.00 crores and an offer for sale of 1.36 crore equity shares by promoters and existing shareholders. In the OFS, the selling shares include shares of promotor Satish Mehta and investor BC Investments IV Ltd. The company is backed by Bain Capital. Kotak Mahindra Capital, Jefferies India, Axis Capital, and JP Morgan India are the book-running lead managers to the issue. This highly anticipated IPO is an opportunity for investors to be a part of Emcure Pharmaceuticals’ growth journey. The proceeds of the fresh issue are aimed to be used towards payment of debt and general corporate purposes.

About the Company:

Emcure Pharmaceuticals is an Indian multinational pharmaceutical company headquartered in Pune. Its portfolio includes tablets, capsules, and injectables. The company is a major producer of HIV antivirals, as well as gynecology and blood therapeutic drugs. In 2014, Blackstone sold its 13% stake in Emcure to Bain Capital. Founded in 1981, the company has served worldwide for the past 43 years. Some key people of the company include its founder Satish Mehta who is also the current CEO and MD, and Sunil Mehta and Namita Thapar (Shark Tank fame) as Executive Directors.

Financial Performance

 

Parameters Q3 FY24 Q4 FY23 Q4 FY22
Assets Rs.6,715.03 crore Rs.6,179.17 crores Rs.6,672.53 crores
Profit After Tax Rs.286.80 crores Rs.218.49 crores Rs.702.55 crores
Revenue Rs.557.86 crores Rs.614.32 crores Rs.470.84 crores

Conclusion

Emcure Pharmaceutical IPO, with a fresh issue of shares worth Rs 800.00 crores and an offer for sale of 1.36 crore equity shares plan on using it towards payment of debt and general corporate purposes.

Stay ahead with the latest on Upcoming IPOs! Discover promising opportunities and get ready to invest.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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